Apparently not all E34 have 2 fusible links I found. For example vehicles produced 9/1992 - 8/1993, E34 525i, 525it, 535, M5
The red cable powering the e-box components from B+ distributor X6449. See page 0670.2-02. That car has per the drawing only one fusible link 80A to rear power distribution box, see page 0670.2-07 http://shark.armchair.mb.ca/~dave/BMW/e34/e34_93.pdf
All E32 have 2 fusible links, 1 goes from the battery inline to the e-box to power the e-box in engine bay, the other cable from the battery with fusible link feeds the relay/fuse box under driver side rear seat.

As for E34 better check the wiring diagrams by built year/month, if there are 1 or 2 fusible links